Nadel & Ciarlo, P.C.

May 2014 Archives

Large commercial real estate deal reached in New York City

Changing business situations can result in a company having major changes in its space needs. Such changing needs can sometimes lead to a company engaging in major real estate transactions. This can be seen in an over half a billion dollar commercial real estate deal that was recently reached in New York City.

East Harlem property owners, tenants fight city's eviction order

According to a lawsuit brought by a business association in East Harlem, the city was late in filing an eviction order against property owners who have held out against a development project. In 2010, a state appeals court ruled that the city had the right to buy out the landowners to move the development forward, but according to the owners' lawsuit, there was a three-year timeframe for filing the eviction order. The city was apparently four months late.

Possible rent freeze at issue in New York

Rent-stabilized tenants in New York City could see a rent increase as high as 4.5 percent or no increase at all. In a move with the potential to bolster Mayor Bill de Blasio's intention of freezing rents for rent-stabilized tenants, the Rent Guidelines Board approved a number of options, including the following:

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